I NSNA Building a Network Theory of Social Capital '

In the past two decades, social capital in its various forms and contexts has emerged as one of the most salient concepts in social sciences. While much excitement has been generated, divergent views, perspectives, and expectations have also raised the serious question : is it a fad or does it have enduring qualities that will herald a new intellectual enterprise? This presentation's purpose is to review social capital as discussed in the literature, identify controversies and debates, consider some critical issues, and propose conceptual and research strategies in building a theory. I will argue that such a theory and the research enterprise must be based on the fundamental understanding that social capital is captured from embedded resources in social networks . Deviations from this understanding in conceptualization and measurement lead to confusion in analyzing causal mechanisms in the macroand microprocesses. It is precisely these mechanisms and processes, essential for an interactive theory about structure and action, to which social capital promises to make contributions .